Straits Time Index rises by 0.55% in March

UOB KayHian reports that the final performance was helped by improving data points from developed markets.

Sectors that outperformed the FSSTI last month include shipping ((+5.6% mom), technology (+2.9%mom),media (+3.4% mom) and property (+1.9% mom).

The latter's outperformance was driven by interest in potential privatisation plays, including Wheelock Properties, which surged 14.9% mom in March.

However, some of the optimism was tempered by concerns over a potential rise in oil prices due to the geo-political risks in the Middle East.

Here's more from the UOBKayHian report:

"The market is trading at a 2012F PE of 14.0x, which is at a significant 16% discount to its long-term PE mean of 16.6x (since 1993). Given the recent better macroeconomic data points, we see potential for the FSSTI to trade closer to its long-term mean valuation when concerns over the euro zone's debt crisis abate. Investment themes we favour include: a) resilient domestic consumption, b) China demand/consumption beneficiaries, c) M&A, and d) sustainable dividend yield. Our picks include, M1, CapitaLand, Ezion, Ho Bee, Ezra, Olam, First Resources
and Keppel Group."

Also Read

Singapore ranks second in global economic freedom

Economists forecast modest NODX growth for Singapore in 2024

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit